Poland's JSW says expects coking coal prices to fall in 2017

KATOWICE: The chief executive at Poland's state-run JSW said on Friday that he expects coking coal prices to fall next year as new production capacity is launched globally.

Prices of coking coal used to make steel have surged this year because of Chinese demand and output reductions. Shares in JSW have increased by almost 700 percent since the start of the year.

"The current prices are temporary and there will be a revision next year," JSW CEO Tomasz Gawlik said, adding that some steel production sites in Europe had suspended output.

"We also hear that new capacities (of coking coal production) are being launched, especially in the US and Canada," he said.

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